Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1887-08-19
Marcus HulingS. The one time
Oil Prince Financially En-
barraSSed.

A correspondent writing from En-
lenton to Pittsbprg paper, unde
date of July both tells the following
remarkable story Of former Kittan
ming man
"The advertisement of Sheriff
Crawford that he would offer for sale
among other property owned by Mar
Gus Huling the old Hulings home
stead in Emlenton, suggests point
or two Of interest in the career of this
wonderful man. Mr.. Huling has
hundreds of friends all over the oil
country who regret sincerely that be
has encountered any obstacles in his
business. In Emlenton, where he
lived many years, and where, indeed,
ne began his wonderful career as q
business man, the keenest regret is
felt. and everybody hopes that his
embarrassment may be blt teapof-
ary. In 1916 Mr.. HuliDgs was elect
ed here 8 director in the Emlenton,
Shippenville and Clarion railroad,
and from about this date his career in
the petroleum world began. Mr..
Hulings is a tall spare man, with
dark hair, blue eyes and thin chin
whiskers. He is of nervous tenn.
perament end dispatches business
rapidly, perhaps too rapidly for his
own good. 1t was in 1876 that he
went into Mexican county. then a
lumber county, and secured an inter
est in the Clark and Babc0ck tract oi
land This land was well timbered,
and was regarded as valuable princi,
pally on that account A little oil
had been found in Mexican county,
or what is better knoVn aa the Hrad
lord field, but oil men scolted at the
idea Of finding 1t in paying quantities.
The sand was black, and black sand
was no good as was then believed
Mr.. Hulings bought six thousand
acres of the Clark aDd Babcock tract,
agreeing to pay S2Q099 for the sane,
So, 600 Of the amount to be paid il
cash, the balance in easy payments.
at that time Marcus Hulings was
full of hard days work but he had
little ready money. Clark and Bah
cock knew him to be a man of push
and energy, and had faith in hig abil-
ity to handle the sig thousand acres
Mr.. HuliDgs probably calculated that
he could get his money out of the
land in the bark and timber that was
on it, even if no oil was found, and it
is likely that he could have done so.
But oil was found He didn't have
| the Iand but snopt tiI.e until good
well was opened up not far from
him. He had borrowed S.. 900 from
j. NJ. Guffy, now we'll known in oil
circles, to make the first payment.
The land pade the rest Of the pay
l.ents llaly ti4les oyer. 1t is likely
nc other real estate purchased in the
oil regions yielded such enormous
profits as did this investment of Mr..
Hulings. He cut the six thousand
acres into leases, and he could hardly
cut it up fast enough TO meet the eE-
traordinary demand made upon him
by oil operators. 1t lay in the very
centre of the rich Mexican county ba-
sin, and every foot Of it was vl,,2ahle.
He received large foyaltles and
bonuses, and in few months he was
the wealthiest individual operator Ill
the oil country. Fortune lavished
her bounty upon him to an extraord-
mary degree, and it became problem
with Mr.. Hulings what to do with
ais many. lie mage large inyost-
peats in other parts of the oil field,
and number of them were singular.
ly fortunate. The Kinzua pool, which
be bought and developed, was one of
his oil bonanzas, and netted him
many thousands of dollars, 1t is un-
derstood that he did not forget Mr..
GuGey when he vas Developing this
| district and let him in Oh terEls that
showed his appreciation of the loan of
the five thousand dollars that enabled
him to secure the rich slice Ct the
Clark and Babcock tract. 1t has
never been know how much money
Mr.. Hulinee made oAt Of his Mczeal
county lands, but the amount ran into
millions. When the Bradford field
was at its zenith, two million dollars
probably represented his wealth, all
made. say in six years or less. Mr..
Hulings no doubt sees now that
sometaips in the nature OF govern
ment bonds would have been q very
good thing to have put his money
into, but he was ambitious. He had
o natural taste for mining, and the
great bonanza fortunes Of the west at
tracted him. lie vent into gold and
silver mines with q boldness that
staggered his friends. lie made sew
eral trips into Arizona, Nevada and
New Mexico, and made many heavy
Investments in mines. lie bought
the famous "Tough Nut" mine in
Arizona, and at one time it promised
to be another Comstock. Mr.. Huling
bought the stock at low fiure, but it
is supposed to have aggregated some
where about two hundred and fifty
thousand dollars. Some develop
menta rapidly increased the value OF
the stock, and at one time he could
have sold his interest in the mine and
cleared a quarter of million dollars.
But he didn't sell. The stock was
then nine dollars on the market. MIR.
Hulings was urged to get out with
his profits, but he said I'll sell when
the stock touches twelve dollars '
The bottom fell out Of the "Tough
Nut" about this time. Mr. Hulings
held on with commendable pluck, and
probably lost every thing he put into
it, This was the beginning Of his
reyerseg, lie purchased and improv-
ed 9 large farm in Crawford county,
near Meadville, which is to day the
wonder OF the country around. A
large amount, not less than
one hundred thousand dollars.
was expended on this farm. He
built handsome addition to Alle-
gheny College, called" "Hulings Hail."
which he could not finish After
spending large amount of money on
this fine building, Mr.. Hulings asked
the trustees of the college to take it
off his hands and relieve him. He
began to see the necessity of tighten
| - =. +bn ,,urca ctrinOa Mr. HuliD pQ